Final answer:
The statement is false; extrinsic rewards originate from external sources, such as financial incentives or praise, unlike intrinsic rewards that come from within due to personal satisfaction from performing a task. Extrinsic motivation can sometimes reduce intrinsic motivation, especially when the external rewards are expected, but can also be neutral or even positive if they're unexpected and seen as positive feedback.
Step-by-step explanation:
The statement 'Extrinsic rewards come from within the individual' is false. Extrinsic rewards are those that come from outside the individual, such as money, praise, or other physical rewards. Unlike intrinsic rewards, which are derived from within the individual due to the internal satisfaction of performing a task, extrinsic rewards are external incentives or rewards that motivate an individual. For instance, an employee may feel motivated to work harder when he expects a financial bonus or promotion, which are examples of extrinsic motivators. However, expecting these rewards can sometimes negatively impact one's intrinsic motivation for the task. Moreover, the occasional unexpected extrinsic reward may not decrease intrinsic motivation, as it can sometimes be perceived as a form of positive feedback rather than an outright motivator.
For example, the businessman who finds comfort in the idea that hard work is its own reward is exhibiting intrinsic motivation because this sentiment comes from within himself. Conversely, when Carl mows a yard for $20, this is an instance of extrinsic motivation because the motivation to act is stimulated by the external reward of receiving money.
The most predictive factor of overall job satisfaction, according to research, is not financial rewards, but factors such as the content of the work itself and the autonomy one has within their job role. The complexities surrounding intrinsic and extrinsic motivations highlight the importance of understanding these concepts, particularly in workplace and performance settings.